Participated · Grant · Sep 2023

IOMED develops AI-powered technology to activate healthcare data across hospitals, unlocking both structured and unstructured sources via a Natural Language Processing system. Its platform transforms data into the OMOP Common Data Model and keeps data inside hospital facilities using a Federated Data Model. The company positions itself as a strategic ally for real-world data–driven healthcare ecosystems and says its mission is to drive a better future for healthcare through AI. IOMED plans international expansion and to consolidate its market position as part of this next growth stage. It has recently strengthened its business and technology leadership team and updated its brand image to reflect its maturity and innovation. Financially, IOMED closed a €10 million Series A and received a nearly €1 million grant from red.es for an AI R&D project. IOMED builds AI and natural language processing software that transforms free-text electronic health records into coded, structured data for clinical research. Its product suite includes locally installed GDPR-compliant data storage, software for observational studies, and a patient-matching network for clinical trials. The company currently works with hospitals across Spain, running projects in 27 medical centres including Vall d'Hebron, Hospital del Mar and Cruces-Biocruces Bizkaia University Hospital. IOMED plans to expand throughout Spain and into Germany and the UK using proceeds from its latest raise. It raised €2 million in the most recent funding round. The startup was founded in 2016 by Álvaro Abella, Gabriel de Maeztu and Javier de Oca and is based in Barcelona. IOMED Medical Solutions develops Medical Language API (MEL), a software that uses natural-language understanding to extract clinically relevant concepts from physicians' electronic records and store them in structured databases. MEL launched to market in 2017 and the company operates under the umbrella of IQS Tech Factory, Spain's first industrial startup accelerator. IOMED applies big‑data analytics to the structured outputs to build predictive models for clinical events such as future hospital readmissions. The technology began implementation in the traumatology area of Hospital Universitario Vall d’Hebron in 2018. The company closed a €500,000 financing round in 2018 that will be used to expand its team and broaden deployment of its technology into new areas. IOMED positions its solution as a way for hospitals to anticipate events, improve patient care and generate operational efficiencies.